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Friday, September 19, 2008

Profiting From Paid Subscriptions

One of the most popular ways for online businesses to profit these days is through paid subscriptions. When you first begin, it may be difficult to even get people to visit your website but as you grow and expand, paid memberships could be just the thing to supplement your income. However, convincing people to pay to see your website does carry its own challenges.

First of all, when you set out, you probably will not be able to offer a ton of products or services but as you grow you will be able to offer more and more. Then you can try to integrate paid subscriptions to your site. Generally, when a site has paid subscriptions, the members obtain special deals and discounts in return. You will have to figure out your discounts and special offers before you begin charging for memberships.

Secondly, members will be paying you to stay updated. This means that you will have to bring in new products and information on a regular basis. Otherwise your customers will be very disappointed to find that they have paid to see the same products and deals day in and day out for the length of their subscription. Whether you are selling a new product or you just have some interesting information about a related topic, place these updates on the first page of your website so everyone sees the updates immediately upon logging in. This ways your members will know that you are keeping up to date with the latest in your industry.

Remember, though, that paid subscriptions will not be your main source of income and in the beginning it will be difficult to convince people to pay for memberships. Start out with free memberships to prove that what you have to offer is worth paying to see. If you can not get anyone to become a member while it is still free, you will certainly never be able to convince anyone to pay for a membership. Free trials are your chance to put on a show and impress your audience. If you do well in the preliminary rounds they will pay to see you later.

As a way to aide you in money making, paid subscriptions are a great method. On the other hand, before you begin to implement this program you must have an outline of how you are going to accommodate your members. What discounts will they get? How often will you update your site? How much will a membership cost and how often must it be renewed? These are all questions you must ask yourself before you try to charge people for memberships. The best way to see whether or not a paid subscription program will work for you is to start with free memberships and work your way up.